• 679 days Will The ECB Continue To Hike Rates?
  • 679 days Forbes: Aramco Remains Largest Company In The Middle East
  • 681 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,081 days Could Crypto Overtake Traditional Investment?
  • 1,086 days Americans Still Quitting Jobs At Record Pace
  • 1,088 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,091 days Is The Dollar Too Strong?
  • 1,091 days Big Tech Disappoints Investors on Earnings Calls
  • 1,092 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,094 days China Is Quietly Trying To Distance Itself From Russia
  • 1,094 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,098 days Crypto Investors Won Big In 2021
  • 1,098 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,099 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,101 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,102 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,105 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,106 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,106 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,108 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Amazon: A New High, Not Really

"Reality can destroy the dream; why shouldn't the dream destroy reality?" ~ George Moore 1852-1933, Irish Writer

The so called big news is that Amazon finally rallied to a new all time high. The experts making these claims should be viewed as the blind leading the deaf.

Many would question our audacity to make such a statement and to those who do we have 3 simple words "Pay close attention".


Charts provided courtesy of www.prophet.net

Amazon traded to a new high closing high on the 10th of Dec of 1999 (106.68); it put in an intra day high of 113 the day before. The dollar index was trading roughly in the 10 2 ranges at that time. It ended the day on the 23rd October at 75.60; the dollar has shed roughly 29% of its value in that time span. In order to put in a new true new high, it would need to trade to roughly 138 dollars; 29% above its Dec 10th 1998 close. In an article dated Oct, 2006, we stated that the following "Note that in reality the True high did not occur in Jan 2000; the Dow actually went on to put on several new highs one in April 2000 (14167), another in July 2000 (14524) and the all time high actually occurred 15 months later in April of 2001. In April 2001 the Dow traded at 14660 when priced in today's dollars. You ask how is this possible well that's where currencies come into play." Full Article . Welcome to the insidious world of inflation.

"Reality is a prison, where one vegetates and always will. All the rest -- thought, action -- is just a pastime, mental or physical. What counts then, is to come to grips with reality. The rest can go." ~ Cesare Pavese 1908-1950, Italian Poet, Novelist, Translator

 

Back to homepage

Leave a comment

Leave a comment